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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

Quoting Juls
EELFRANZ,
I have been following your thread now with great interest and i would like to try trading on just the 4hr charts the same times as you, but this is where i get confused.
You state that [font=Comic Sans MS][size=3][color=blue]I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time.
[color=Black][size=2]Now here in the UK we are 4hours behind you so this means you trade candles at 6pm (UK time), 10pm (UK time) and close all trades at 2am (UK time). Then...
maybe it will help you... Pg 96, post 1433
Quoting XxLessoxX
entered on the opening of the first red line. closed as TDI is going flat. Attachment 693949
Hi Lesso,

Your chart looks interesting with combination of tdi+ashi+stoch. Do you mind sharing your template? Thanks.
Hi all,
THis method is new to me, so this week I cut my trade size down to mini lots and decided to massively overtrade to get my eye and brain accustomed to the correct signals and its working. Even if a lost all 20 trades I would have only been down a couple of hundred...and Eelfranz and the senior guys...yes I deliberately overtraded and I will for the next few weeks to try and get myself accustomed to it naturally.
Good thing is....I got 14 out of the 20 trades correct for a profit of 121 pips. So more of this and I should be able to hone myskills and have it become more mechanical in my head to pick the high probability.
So what I have also done during the week is put together a trade check. NOw please be aware this is for ME!!!...it is written the way I perceive and understand it and it is purely the way I interpret and understand it. Every person looks at a trade differently and although 10 of us could see exactly the same signals we will all trade it differently, many with different outcomes.
So anyone is welcome to use it and criticise it, but it may not be useful to you. It covers what I perceive as the important factors for high probability trades and the important basic forex signs.
I would love to hear an opinion or criticism or whatever from Eeelfranz and the senior guys and again everyone please dont think this is gospel, its just the things I want to embed in my mind permanently so I can remember them every time I assess them. I believe FOR ME this will get me into high probability low risk trades and filter out the rubbish ones.
Everyone is so generous her I figured its the least I can do.
If you dont understand what I have written (as its aimed at me) feel free to ask.
Eelfranz if you think its inapproprate for theis thread tell me and I wont speak of it again.
Attached File(s)
File Type: xls TDI trade check.xls   229 KB | 2,452 downloads
Quoting eelfranz
My 3 trades for the week... trying to average 250 pips a week... trading full lots... all 3 were bounce trades... when you ask why I didn't take a trade at an obvious candle... usually the answer was I wasn't online then or I was sleeping...
Hi Eelfranz, curious as to what prompted you to exit the trade on 02/05
Quoting snarlyjack
Attachment 693746

Attachment 693747

Look how the TDI green line was flat last night, below the
32 line and then started to turn up.

I know it was against the rules but I wanted to set my
trades and I figured they would be low risk trades.
Currently I'am up $90.00 on all 3 trades.

snarlyjack
congrats for pulling a profit going against the trend! What was your stop, didn't you have to take alot of drawdown before it went into profit?

TIA
Quoting Chillypiper
2scoops, has any rule been devloped after the stoch goes beyond it's range of 20-80 ( red zone )....All i've read is just be ware,but at the same time. It could run another 100 pips...... Or is that like no mans land?
BigE doesn't use Stochs for exiting decisions and your right outside the 20-80, stochs its useless anyway.
Quoting KumoDragon
I know it wouldn't be the actual pips travelled because the candles are averaged HA candles.

But, I was thinking having a measurment in pips that is considered to small would be good thing. That is left click and hold and drag to measure candle in pips. And then if it is x or smaller it's considered too small.

Kumo,

I went through the Synergy 2.0 method some time ago, and eelfranz's method is an extremely good simplification of that. One point of note in the Synergy method was that there should be a difference of the average price bar (open vs close) of between 3-10 pips at least to consider a valid trade set-up. Perhaps this can be used as a guide to guage candle size? Having said that, I found the best solution is to eyeball the previous candles and guage the size in relation to those candles, after some practice it becomes second nature to spot the weak/small candles!
Dean,

Thanks for the info.

Once again you are doing everything possible to turn a Simple System into a Complex system.

It takes 3-5 seconds to check TDI and PA.

Add 1 second to make a decision.

Regards,
Rascal
I would never want to trade the 5 method with a robot, as I don't think they work in the long run. But would it be possible for a bright spark to code an alert that looked for a tdi cross at the correct angle and then checked stochs was in agreement at the correct angle and the HA candle was the correct colour too then alerted/emailed/texted you.

You could then double check all the forex basics and the 5 method rules were met and make the trade?
Can some one guide me how to use Stochastic Slope.
Thanks
Quoting dean
Hi all,
THis method is new to me, so this week I cut my trade size down to mini lots and decided to massively overtrade to get my eye and brain accustomed to the correct signals and its working. Even if a lost all 20 trades I would have only been down a couple of hundred...and Eelfranz and the senior guys...yes I deliberately overtraded and I will for the next few weeks to try and get myself accustomed to it naturally.
Good thing is....I got 14 out of the 20 trades correct for a profit of 121 pips. So more of this and I should be able to hone myskills...
Dean,
Did you create this with Excel or some other spreadsheet program? I can't open it in Excel.
Quoting dean
...If you dont understand what I have written (as its aimed at me) feel free to ask.
Eelfranz if you think its inapproprate for theis thread tell me and I wont speak of it again.
Dean, not one of the seniors but I think that it is useful to me...everything all together in one place!

Many thanks

@FXBR56...Opened in Excel for me with just a click.
Don't forget it you haven't got excel, you can download open office for free http://download.openoffice.org/

- Seems a pretty good check list Dean, thanks for sharing
Thanks, I got it to open.
Also if your looking to get some 5 method practice in over the weekend try this:

Trading Simulator:

http://www.forexfactory.com/showthread.php?t=70742
Dimsss - post 1674

Which page & what post?
Allan,

Which page, which post?
I max my candle size out (+) and then click back 2 times (-) ... This chart shows the candles I pass on for trades...



Attached Image (click to enlarge)
Click to Enlarge Name: e-u3.gif Size: 24 KB
Quoting eelfranz
Allan,

Which page, which post?
Page 112, post 1667.
Quoting 2scoops
I would never want to trade the 5 method with a robot, as I don't think they work in the long run. But would it be possible for a bright spark to code an alert that looked for a tdi cross at the correct angle and then checked stochs was in agreement at the correct angle and the HA candle was the correct colour too then alerted/emailed/texted you.

You could then double check all the forex basics and the 5 method rules were met and make the trade?
This indi will alert you when TDI and Stochastic in agreement.. Not yet tried it on live market (its Saturday) but so far so good on my chart..
Attached File(s)
File Type: mq4 TDI Red Green with Stochastic Alert.mq4   10 KB | 1,480 downloads
Don't Ask ..
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